AutoLeadStar lands $40M in growth funding

AutoLeadStar, a digital customer data and experience platform, has landed a $40 million round of funding led by Riverwood Capital and with existing investors participating, as well.

The company provides artificial intelligence-powered marketing automation technology to dealerships and OEMs. Nearly 1,000 dealerships in the U.S. and Canada use AutoLeadStar’s software.

“The customer car purchasing experience is rapidly changing and the automotive industry is thirsty for new technologies to serve the modern consumer,” AutoLeadStar co-founder and CEO Aharon Horwitz said in a news release.

“AutoLeadStar is the industry’s premier tech lab, where we partner with dealers to envision the robust digital systems, online processes, and software they need for an increasingly digitized business landscape,” Horwitz said.

 “We are excited to partner with Riverwood Capital to double down on and expand our investment in the technology we can provide for auto retailers. Car dealerships are massive drivers of economic growth and value in communities, and especially given the current economic climate, we are proud to be helping dealerships succeed in the digital era.”

Riverwood joins existing investors PICO Venture Partners, Target Global, and Aleph.

“AutoLeadStar is disrupting a market dominated by fragmented legacy solutions. The Company is providing dealerships with the most attractive software automation platform which consolidates data sources and implements hyper-targeted, sophisticated marketing campaigns to digitally engage with consumers, increasing sales, productivity, and ROI,” Riverwood co-founder and managing partner Francisco Alvarez-Demalde said in a news release.

“Aharon and the AutoLeadStar team are incredibly driven. They have built a company that is anchored by a world class product platform and go-to-market team, and by a relentless focus on customer success and quality thus delivering tremendous growth and world class software metrics.”

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